Let me share some thoughts on the current market situation with you.
image source: https://www.google.at/search?q=cryptocurrency&source=lnms&tbm=isch&sa=X&ved=0ahUKEwid75ew_I_ZAhVMbVAKHQnQAYEQ_AUICygC&biw=1517&bih=707#imgrc=XCQKdkQRTMxfjM:
Please consider the following scenario is just hypothetical and I'd rather recommend you to do a good research before you invest any amount of your money.
Actually, if you invest in every single coin the same amount of the money, you would definitely gain a lot of money after some years holding your coins, because the total market cap will rise significantly. Why?
Let's explain:
It's a young market with a low market cap compared with the worldwide money circulation (or stocks, properties...etc.).
We need currencies which are not dependent on the economic situation of a country.
Cryptocurrencies could make our money transfers faster and more efficient when it comes to stuff, infrastructure, banks, energy consumption.. etc.
The degree of globalization is rising due to internet, transport, telecommunication, rising living standard..etc. The higher the degree of globalization gets, the higher is the need for exchanging goods and services.
Cryptocurrencies serve in that points pretty well (and probably in many more). Therefore coins and projects will emerge which will prevail in the in the crypto space...the only question is which one(s).
My advice:
- diversify your money
- try to be up to date
- start to read whitepapers to get a deeper understanding of the technology!
- don't spent more money than you're willing to loose
Only a good understanding of your coins will give you confidence in your investment(s) and prevent you from panic sells.
I can highly recommend those guys, if you like to educate yourself via YouTube videos about this topic.
@ivanli (good technical understanding of the whole ecosystem)
@louisthomas (probably easier understanding for newbies)
Happy hodling!
DISCLAIMER: This is NOT financial advice. This are just my opinions. I am not responsible for any investment decisions that you choose to make.
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